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    Lake-Adjacent Commercial Land Opportunity Title is generated by Realmo AI

    303 N Fm 2353, Graford, TX 76449

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    For Sale
    $175,000

    LAND - Possum Kingdom Lake, TX

    Lot size:
    1.60 Acres
    Added:
    Mar 6, 2026
    Days on Market:
    91
    Last Refresh:
    Jun 5 at 4:06 am

    Property Features for 303 N Fm 2353

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Grassed
    Standard status
    Active
    APN
    565602
    Lot size
    1.60 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 1.595 PK LAKE 32-1-48 AREA 11-C LOTS A
    Tax Annual Amount
    1774

    We can help!

    Listing Contact
    Jo Lynn Miller
    Jo Lynn Miller

    Listing agent Jo Lynn Miller License #0595352

    Listing office Lake Homes Realty, LLC Pelham, TX

    Listing date Mar 6, 2026

    MLS# 21125299 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • More than 1.5 acres on a main thoroughfare near Possum Kingdom Lake, in an unincorporated, un‑zoned area
    • Located in the business section of PK near RV parks, Willow Beach Marina, Community Church, storage, shopping, industrial, dining, and professional offices
    • Seller is aware of deed restrictions requiring the property not be used as a real estate office location (next‑door building formerly Brazos Title)
    • Bid received in March 2025 for approximately $15,000 for fill dirt and leveling
    • Water meter is believed to be reserved with PK Water Supply Corporation, but not installed

    Overview

    This offering is a commercial land parcel near Possum Kingdom Lake, offered as an un-zoned site in an unincorporated area. The property is positioned on a main thoroughfare and is described as having significant potential for an owner or developer looking to bring a new use to the area. The seller notes the only deed restriction they are aware of is that it cannot be used as a real estate office location. The seller also indicates a prior bid of approximately $15,000 (received in March 2025) for fill dirt and leveling.

    The parcel is located in the business section of Possum Kingdom Lake and is described as close to multiple types of nearby demand, including RV parks, Willow Beach Marina, a community church, storage, shopping, industrial uses, dining, and professional offices. The seller also believes a water meter may be reserved with the PK Water Supply Corporation, though it is not installed at this time, which could allow for planning when the property is improved.

    Given its commercial positioning and lack of zoning, the land may be a practical fit for a range of light commercial concepts, such as a coffee shop, office space, gift shop, storage facility, or similar local-serving businesses. Prospective buyers should review deed restrictions and confirm utility availability and placement plans during due diligence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Law Office Of Ronda ... Law Firm

    Suggested Use

    Law Firm Restaurant Real Estate Agency Building Supply Auto Repair Shop Hotel & Motel Bar & Pub Big Box & Wholesale Store Auto Parts Store Cafe & Coffee Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Graford
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.436182
    Latitude
    32.914728

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    FAQs

    What type of property is this?
    Commercial land - Un-zoned, nearly 1.6-acre parcel on a main thoroughfare with utility considerations for a new business build.
    Where is this commercial land located?
    The property is located at 303 N Fm 2353 Graford, TX.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: More than 1.5 acres on a main thoroughfare near Possum Kingdom Lake, in an unincorporated, un‑zoned area; Located in the business section of PK near RV parks, Willow Beach Marina, Community Church, storage, shopping, industrial, dining, and professional offices; Seller is aware of deed restrictions requiring the property not be used as a real estate office location (next‑door building formerly Brazos Title)
    (205) 985-2991
    We can help!
    Listing Contact
    Jo Lynn Miller
    Jo Lynn Miller
    Real Estate License ID: 0595352
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    303 N Fm 2353, Possum Kingdom Lake, TX 76449
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